July (pdf) - New York Power Authority

Qualified Swap.
Rating Agency means each nationally recognized securities rating agency then maintaining a rating on
the Obligations at the request of the Authority.
Rating Category means one of the generic rating categories of any Rating Agency without regard to any
refinement or gradation of such rating by a numerical modifier or otherwise.
Redemption Price means, with respect to any Obligation, 100% of the principal amount thereof plus the
applicable premium, if any, payable upon the redemption thereof pursuant to the General Resolution.
Registrar means any registrar for the Obligations of any Series and its successor or successors and any
other person which may at any time be substituted in its place pursuant to the General Resolution.
Revenues means all revenues, rates, fees, charges, rents, proceeds from the sale of Authority assets,
proceeds of insurance, and other income and receipts, as derived in cash by or for the account of the
Authority directly or indirectly from any of the Authority’s operations, including but not limited to the
ownership or operation of any Project, but not including any such income or receipts attributable directly or
indirectly to the ownership or operation of any Separately Financed Project and not including any federal
or state grant moneys the receipt of which is conditioned upon their expenditure for a particular purpose.
Securities Depository means The Depository Trust Company, New York, New York, or any substitute
Securities Depository, or any successor to any of them.
Separately Financed Project means any project described as such pursuant to the General
Resolution.
Series means all of the Obligations delivered upon original issuance pursuant to a single Supplemental
Resolution and denominated therein a single series, and any Obligations thereafter delivered in lieu of or in
substitution therefor pursuant to the General Resolution, regardless of variations in maturity, interest rate,
or other provisions.
Subordinated Contract Obligation means any payment obligation (other than a payment obligation
constituting Parity Debt or Subordinated Indebtedness) arising under (a) any Credit Facility which has been
designated as constituting a ‘‘Subordinated Contract Obligation’’ in a certificate of an Authorized Officer
delivered to the Trustee, (b) any Qualified Swap which has been designated as constituting a ‘‘Subordinated
Contract Obligation’’ in a certificate of an Authorized Officer delivered to the Trustee, (c) the 1995
Revolving Credit Agreement, and (d) any other contract, agreement or other obligation authorized by
resolution of the Authority and designated as constituting a ‘‘Subordinated Contract Obligation’’ in a
certificate of an Authorized Officer delivered to the Trustee. Each Subordinated Contract Obligation shall
be payable from the Trust Estate subject and subordinate to the payments to be made with respect to the
Obligations and Parity Debt, as provided for in the General Resolution and which shall be secured by a lien
on and pledge of the Trust Estate junior and inferior to the lien on and pledge of the Trust Estate created
pursuant to the Resolution for the payment of the Obligations and Parity Debt.
Subordinated Indebtedness means any Commercial Paper Notes, and any bond, note or other
indebtedness authorized by resolution of the Authority and designated as constituting ‘‘Subordinated
Indebtedness’’ in a certificate of an Authorized Officer delivered to the Trustee, and which shall be
secured by a lien on and pledge of the Trust Estate junior and inferior to the lien on and pledge of the Trust
Estate created for the payment of the Obligations and Parity Debt.
App. 1-6